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Private-equity funds, including Blackstone, Carlyle Group <CG.O>,
and CVC Partners, have built up significant firepower in recent
years to invest in the oil and gas industry, where asset prices
have dipped sharply since crude oil prices collapsed mid-2014.
Blackstone said in August it would invest about $1.5 billion in
the oil-rich Permian basin.
EagleClaw Midstream Ventures LLC said on Monday the all-cash
deal includes about $1.25 billion in debt, financed by Jefferies
LLC.
Midland, Texas-based EagleClaw's assets include over 375 miles
of natural gas pipelines and 320 million cubic feet per day of
processing capacity.
Jefferies LLC is the financial adviser to EagleClaw, while
Morgan Stanley and Intrepid Partners LLC advised Blackstone.
(Reporting by Arathy S Nair and Muvija M in Bengaluru; Editing
by Sriraj Kalluvila)
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